The European Banking Authority (EBA) has published a letter from the European Parliament’s PSD2 negotiating team. The team describes itself as “concerned” about the risk that the EBA’s draft Regulatory Technical Standards (RTS) on “strong customer authentication and … secure communications” will allow the banks to “exclude or limit direct access” by account information and payment initiation service providers (AI&PISPs) to customer payment accounts, using existing online banking facilities.
The negotiating team also criticizes the draft RTS for being “unclear” and “inconsistent with the Level 1 legislation“, before noting that “with regard to contactless payments … a future proof solution is necessary“, and “when defining the thresholds for an exemption, any negative impact on firms should be duly taken into account“.
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